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Lottery winner donates apartment complex to help families in crisis

Topic closed. 37 replies. Last post 5 years ago by mylollipop.

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hearsetrax's avatar - 0118

United States
Member #52345
May 21, 2007
2657 Posts
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Posted: April 23, 2012, 7:10 am - IP Logged

 Admit it, folks. You guys want to kill Dems, starting from poorl ol Obama.

lol  ...........Type..........shoot them all..... both republicans and democrats and let the all mighty sort them out

    Halle99's avatar - Lottery-043.jpg
    United States
    United States
    Member #68252
    December 16, 2008
    168 Posts
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    Posted: April 23, 2012, 7:23 am - IP Logged

    GOD bless Mr. Randy Smith. 

    What a wonderful man.Party

      Avatar
      Appleton, Wi
      United States
      Member #118178
      October 24, 2011
      199 Posts
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      Posted: April 23, 2012, 8:44 am - IP Logged

      Ditto

        sully16's avatar - sharan
        Ringleader
        Michigan
        United States
        Member #81740
        October 28, 2009
        40376 Posts
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        Posted: April 23, 2012, 12:58 pm - IP Logged

        Very nice Mr. Smith.

        Did you exchange a walk on part in the war ?

        For a lead role in a cage?

         

                                                    From Pink Floyd's " Wish you were here"

          Jill34786's avatar - Lottery-006.jpg
          Windermere, FL/Franklin, TN
          United States
          Member #50210
          March 1, 2007
          843 Posts
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          Posted: April 23, 2012, 4:39 pm - IP Logged

          God bless Mr. Smith! It is so refreshing to see someone make such an impact on  their community.

          What makes it even more amazing is that this gentleman received far less than the $44 million the media had claimed he took home after taxes. The facts are the jackpot from the August 21, 2010 drawing was worth $80 million with 43.5 million being the lump sum cash value. After taxes, Mr .Smith received a wire for a tad more than $29.7 million.

          Donations like this is what helps mitigate the additional Federal taxes that would otherwise be given to the Government to squander away.

            Jill34786's avatar - Lottery-006.jpg
            Windermere, FL/Franklin, TN
            United States
            Member #50210
            March 1, 2007
            843 Posts
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            Posted: April 23, 2012, 4:53 pm - IP Logged

            We need more MR. Smiths in this world, whether or not as winners of Lottery winners or people that came into money through their family inheirtance. It's a shame though that, Lottery winners can't take advantage of the Loop-holes the filthy rich do, so they don't have to pay all the taxes the Lottery winners have to pay. Look at Mr Smith he  won $79 million and after taxes he ended up with $49 million, that's  $30 million in taxes they took off, heck Mitt Romney doesn't pay that much taxes on all the millions he makes because of the loop holes he's entitled to, in the millionaire club. But if you win several million dollars you don't fit into that club so that rake you over the coals. Go figure.

            You are comparing capital gains (investments held for at least a year) to ordinary income. There are many "filthy rich" individuals who pay the regular income tax rate and not cap gains. The media wants everyone to think that all millionaires pay a reduced rate which is completely false.

            On a side note, the article was made to glorify/exaggerate Mr. Smith's overall take home pay. The cash value was 43.5 million and after Fed and WV taxes, he received a little more than 29.7 million and not the $44 million the media had claimed.

            What's even more insane is that there are individuals out there (not LP members) that believe Mr. Smith actually took home $79-80 million because the oversize check said so...their uninformed minds forgot about a little thing called taxes Bash

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              atlanta,ga
              United States
              Member #87728
              March 2, 2010
              43 Posts
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              Posted: April 26, 2012, 8:51 am - IP Logged

              I think what initially drove Smith to donate his family home and especially his 24 unit complex to charity became transformed into something

              more property management company friendly.

              His main intentions were excellent and I applaud his kind hearted contribution, I'm sure he will continue in that direction.

              What bothered me about the article was the fact that 20 of the 24 units are being rented at $200 below market value. The need for emergency

              housing due to 'illness, loss of employment and other misfortunes' isn't remedied by a reduction of $200 off the going rate. The reasons for need

              - no job, home destroyed by fire, illness, etc - are devasting to most both emotionally and financially. For most, I'm sure there is no money left

              to see any benefit in what the ~good people~ at Phenix Group LLC and the United Way's housing program felt was a good thing for those in need.

              The rental income, generating a net of $30,000 a year after expenses, is the true bottom line. It's an ongoing cycle. It's depressing when good

              intentions are tarnished by too many cooks spoiling the stew.

               My sentiments exactly...

                mylollipop's avatar - Trek STLOGO6.png

                United States
                Member #24380
                October 21, 2005
                623 Posts
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                Posted: April 26, 2012, 1:12 pm - IP Logged

                We need more people like this man to win!

                So true!  He is genuine and sincere.  He did not lie about what he was going to do with his money, he just did it! GOd bles him for helping out those in need.  He did not have to do it, but he chose to.  He will be blessed many times over and over. "He who is kind to the poor lends to the LORD, and he will reward him for what he has done." Proverbs 19:17